TORONTO, June 1, 2021 /CNW/ - Globally Local Technologies Inc., (the "Company")(TSXV: GBLY) the parent company of Globally Local, one of the world's first vegan fast-food chains, is pleased to announce the following corporate updates.
The company had record gross sales in the amount of $75,572 for the month of April, 2021, unaudited at their 492 College St., Toronto location. The financial results represent the strongest monthly gross sales figures since the location opened in October 2019.
The Company is also pleased to announce the appointment of Ted Sehl to the position of Chief Financial Officer. Mr. Sehl's successful career in finance includes positions at McDonald's Restaurants of Canada where he was Director of Finance for 11 years and W.C. Wood Corporation, a leading manufacturer of freezers and refrigerated appliances where he served as Senior VP of Finance for almost 12 years. A graduate of York University in Toronto, Mr. Sehl holds an MBA and is a Chartered Accountant.
The Company is commencing a search for a new member of the Board to transition into Mr. Sehl's Board position.
The Company wishes to extend its appreciation to Mr. Carlo Rigillo, the former CFO, for his insight, commitment and skill during the past eight months which included the successful listing of the Company on the TSX Venture Exchange. Due to other commitments of Mr. Rigillo, the CFO change was implemented in order to have a full-time dedicated CFO.
In addition, Eoin Craigie has been appointed VP Information, Systems & Technology. Mr. Craigie will be leading the information, systems, and technology initiative at the Company. Mr. Craigie previously worked for more than 14 years at a leading financial technology firm. He has been involved in the design and implementation of sophisticated software systems for latency-sensitive and technology-driven trading. He worked in both the USA and Canada, and his most recent role in Montreal was Technical Director where he oversaw all technology for a group of more than 75 software developers, traders, and trading support specialists.
"We continue to build a world-class management team as we enter our next phase of rapid growth at Globally Local," said CEO James McInnes. "The knowledge and experience that both Ted Sehl and Eoin Craigie bring to our organization will continue to strengthen our position as an industry-leading plant-based food technology company."
In connection with these appointments, certain officers have been granted 481,000 stock options with an exercise price of $1.22 per share. The options vest 1 /3 on each of the 12, 24 and 36 month anniversaries of grant.
The Company has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the grant of these options. The options are subject to TSX Venture Exchange acceptance.
About Globally Local Technologies Inc.
Globally Local is a plant-based food technology company that manufactures and distributes industry-leading plant-based protein and dairy alternatives using locally sourced and sustainable ingredients. The company distributes its products through a proprietary food service line to company owned and franchised fast-food restaurant locations. Globally Local restaurant locations operate as smart kitchens, which use state-of-the art cooking technology and automation solutions to deliver a delicious food experience to customers craving healthier and more sustainable fast food. With small store footprints optimized for delivery and takeout, advanced cooking technology, competitive pricing, a vertically integrated supply chain along with healthier ingredients, Globally Local is revolutionizing the fast-food industry. The Company currently operates a manufacturing facility and two restaurant locations in Canada, with plans to open 20 additional restaurant locations across North America in the next 12 months. The Company is traded on the TSX Venture Exchange under the symbol GBLY. For more information visit https://globallylocal.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
This news release contains forward-looking statements relating to the future operations of the company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "plans", "will", "may", "should", "anticipate", "expects" and similar expressions. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company.
Specifically, this press release contains forward-looking statements. Such forward-looking statements of information are based on a number of assumptions which may prove to be incorrect.
Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by Canadian securities law.
SOURCE Globally Local Technologies Inc.